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    1316 105 St Miami Shores, FL 33138

    Sponsored
    For Sale
    $3,150,000

    8-Unit Waterfront Apartment Building, High ROI

    Property size:
    9,740 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 8-unit apartment building in Miami Shores, Florida, presents a compelling investment opportunity. Boasting 9,740 square feet on a 13,750 square foot lot (APN: 11-2232-027-0150), this two-story Class B property offers a current NOI of $162,086 and a pro-forma NOI of $209,709, translating to a 5.15% cap rate and a pro-forma cap rate of 6.66%. The asking price is $3,150,000, resulting in a price per square foot of $323.41. Each of the eight units features modern amenities including stainless steel appliances, granite countertops, full kitchens, and a mix of travertine and hardwood flooring. The property benefits from ample parking and a recently redesigned landscape for low maintenance. Safety features include hurricane shutters and impact-resistant doors. Situated in a desirable A-1 zoned location just off Biscayne Boulevard, this renovated building underwent its 60-year recertification in 2023, ensuring long-term compliance. This waterfront property offers consistent rental income and significant potential for future growth in a prestigious Miami Shores neighborhood. The property's prime location and updated features make it an attractive investment for discerning buyers seeking a stable and high-return asset.

    Property Features for 1316 105 St

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,740 SF
    Class
    B

    Building Details

    Buildings
    1
    Stories
    2
    Units
    8

    HighLights

    • Prime waterfront location.
    • Ample parking.
    • Generous unit sizes.
    • Convenient location near Biscayne Blvd.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Shores
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1705709
    Latitude
    25.8717915

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    FAQs

    What type of property is this?
    Multifamily property - 8-Unit Waterfront Apartment Building, High ROI
    Where is this multifamily property located?
    The property is located at 1316 105 St Miami Shores, FL.
    What is the asking price?
    The asking price for this property is $3,150,000.
    What are key features of this property?
    This property features: Prime waterfront location.; Ample parking.; Generous unit sizes.
    Request Owner's contact information
    1316 105 St Miami Shores, FL 33138
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    Miami Shores, FL 33138
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1316 105 St Miami Shores, FL 33138
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